Amsterdam, November 20, 2017 – Kardan N.V. (‘Kardan’ or ‘the Company’), active in Real Estate and Water Infrastructure in emerging markets announces that Tahal Consulting Engineers Ltd. (‘Tahal’), the Company’s (indirect) subsidiary, was awarded another Turn-key water infrastructure design-build project in the city of Nagercoil in the Tamil Nadu province, India, for a total amount of approximately USD 29 million (€25 million).
The project consists of the construction of water supply and treatment systems, water pumping stations and various operational facilities for approximately 85,000 households.
The project includes a first phase of planning and construction over a 30-month period, followed by an operation and maintenance phase of an additional 12 months after handing over.
The total compensation for the Project is approximately USD 29 million (€25 million). The payment terms are linked to agreed performance milestones throughout the duration of the projects.
This is the sixth project signed by Tahal in India, the fourth Turn-key in 2017, and brings the total of new orders of Tahal over the last three years to about USD 215 million (€182 million).